Orlando short sale Blog

Florida second highest in Foreclosure rate

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The following information and chart is from realty trac.

Florida foreclosure starts dropped 27 percent from March to April, but for the second month in a row the state posted the nations’ second highest foreclosure rate: one in every 363 housing units with a foreclosure filing.

Although the state’s foreclosure starts decreased annually for the second straight month, scheduled foreclosure auctions in Florida increased 55 percent from a year ago in April — the fourth straight month with an annual increase in scheduled foreclosure auctions. Florida REOs in April increased 9 percent from a year ago, and the state has posted annual increases in REOs in 15 of the last 16 months.

Florida number 2 after Nevada for Underwater homeowners

Five Florida cities posted foreclosure rates in April that ranked among the nation’s top 10: Ocala at No. 2 (one in every 225 housing units with a foreclosure filing); Miami at No. 3 (one in every 269 housing units); Orlando at No. 4 (one in every 287); Jacksonville at No. 7 (one in every 345 housing units); and Tampa at No. 9 (one in every 384 housing units).

These stats are quite alarming as the rest of the nation seems to be recovering and we are still experiencing record foreclosures. So while the starts are decreasing the auctions are on the rise. I realize we need to get the foreclosures out of the way to recover, however the main stream media is not reporting these stats. With one in every 287 homes in Orlando being in Foreclosure.

When you hire an agent ask them to show you their approval letters or some of their closed sales. You want to have an expert on your side. At Asset One Realty, Wendy and I have this knowledge and we have the documentation to back it up. Remember foreclosure is the last resort. Contact us at our Web Site or Short Sale Answers this site has videos of the 5 most asked questions regarding a short sale and video testimonials from our clients. Email us direct at paganorealtor@gmail.com or assetonebroker@gmail.com

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